MONEY TALKS: Toothless FMA leaves no bite mark

Wed, 08 Jul 2015

By Jonathan Underhill July 9 (BusinessDesk) - The prosecution of the principals of Hanover Finance and its associated deposit-taking businesses was arguably the biggest task facing regulators as they sought to hold finance companies to account for the destruction of billions of dollars of savings of ordinary New Zealanders. Instead they settled, keeping the detail from public view. The story of Hanover had many of the elements of a ripping yarn. A high-profile newsreader had been hired to shill for the firm in TV advertisements that said...

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